China outlines national blockchain and computing network
A policy document from the Central Committee of the Communist Party of China and the State Council has put a national blockchain network on the government’s goal list. The document, dated Oct. 9 and titled Views on the Development of New Qualified Productive Forces, calls for deeper integration between the real economy and the digital economy. It also plans better data infrastructure, faster digital transformation in manufacturing, and support for industrial internet projects.
The plan includes the Processing Eastern Data in the West project, which aims to connect data centers and computing resources across the country. The proposed national blockchain network is expected to be one part of that broader digital infrastructure. The National Development and Reform Commission had already outlined a national blockchain network construction project for 2026-2030. The latest document confirms that top political and administrative bodies have included the goal in China’s economic transformation plan.
What the document does not say
The statement does not mention Bitcoin, Ethereum, or any other cryptocurrency. It also does not say whether the planned network would be permissionless, publicly accessible, or carry its own token. So it does not mean China is changing its approach to crypto trading or lifting its bans. China has long restricted cryptocurrency transactions while supporting permissioned blockchain technology for government agencies, companies, and industrial applications.
The network is likely to be used for sharing public data, digital identity, supply chain tracking, financial reconciliation, and verification of industry data. But the document does not specify its technical architecture, launch date, budget, or which institution will operate it.
Conflux jumps as traders weigh possible benefits
The announcement increased interest in Conflux, or CFX, a project promoted as a public blockchain compliant with regulations in China. Market participants viewed Conflux as one project that could benefit from China’s plan to expand blockchain infrastructure. The altcoin rose by about 28%.
Market data showed Conflux trading volume near $204 million in 24 hours. Its market capitalization stood at $357 million. That means volume was about 57% of market cap, a sign of heavy buying and selling. The Relative Strength Index climbed to 63. That suggests upward momentum is building, though the price has not reached the overbought zone, usually seen above 70.
What to watch next
The key unknowns are still large. It is unclear whether the network will be public or permissioned, which companies or protocols might take part, and whether any token would be used at all. Until more details arrive, the CFX move may reflect trader sentiment more than confirmed government adoption. China’s record suggests blockchain development will stay within a controlled, enterprise-focused model.
For now, the document marks another step in China’s digital infrastructure planning. It is not a reversal on cryptocurrency trading. This is not investment advice.
